Replenishment

What Is Replenishment?

The Global Fund pools the world’s resources to invest strategically in programs to fight HIV, tuberculosis (TB) and malaria, build resilient and sustainable systems for health and strengthen pandemic preparedness. Our financing primarily comes from the public sector, with 94% of our funding coming from donor governments. The remaining funding comes from the private sector, foundations and innovative financing initiatives.

The Global Fund raises and invests money in three-year cycles known as Replenishments. This three-year approach was adopted in 2005 to enable more stable and predictable financing for countries and to ensure ongoing program continuity. In February 2025, we launched our Eighth Replenishment fundraising cycle, which will run from 2026-2028.

Over the past two decades, our unique partnership has invested more than US$65 billion, saving 65 million lives and reducing the combined death rate from HIV, TB and malaria by more than half in the countries where we invest.

Replenishment and Implementation Cycles

The Replenishment process starts with two Replenishment conferences that take place the year before a new three-year funding cycle begins, known as the “Replenishment period.”

The first of these meetings, the preparatory meeting, is where Global Fund partners and potential donors are given an update on our progress in the fight against HIV, TB and malaria, along with a detailed strategic plan for future programs and their financial need. This investment case details how the requested financing will translate into desired goals: lives saved, infections averted, and even long-term economic gains achieved by reducing global disease burden.

The preparatory meeting is then followed by a pledging conference, at which donors pledge the amount they plan to give over the following Replenishment cycle. Following their public pledge announcements, donors then make payments over the Replenishment cycle, based on an agreed payment schedule. We continue to raise funds throughout the three-year fundraising period. 

Who Takes Part in Replenishment Conferences?

Replenishment conferences are attended by delegations representing donor governments, civil society and public and private sector donors.

History of Replenishment Cycles

Over the first several years after the Global Fund was founded in 2002, we were funded by ad hoc donations. In 2005, we moved to Replenishment cycles as a means of predictable resource mobilization.

The First Replenishment was launched in 2005 with the aim of funding the resource needs for 2006 and 2007. Two preparatory meetings took place in Stockholm, Sweden, and Rome, Italy. A pledging conference took place later that year in London, United Kingdom.

The Second Replenishment was launched in 2007 for the funding period 2008-2010. The preparatory meeting took place in Oslo, Norway; delegations also met in Berlin, Germany, for the pledging conference.

The Third Replenishment was launched in 2010 for the funding period 2011-2013. A preparatory meeting was held in the Hague, the Netherlands, followed by a pledging conference in New York, United States. The Fourth Replenishment was launched in 2013, for the funding period 2014-2016. The preparatory meeting took place in Brussels, Belgium, with the pledging conference in Washington, D.C., United States. The Fifth Replenishment launched in 2016 for the funding period 2017-2019. The preparatory meeting took place in Tokyo, Japan, in December 2015, and the pledging conference in Montreal, Canada, in 2016.

The Sixth Replenishment launched in 2019 for the funding period 2020-2022. The preparatory meeting took place in New Delhi, India, and the pledging conference was held in Lyon, France. The Seventh Replenishment was launched in 2022 for the funding period 2023-2025. The preparatory meeting was co-hosted virtually by a coalition of African leaders from the Democratic Republic of the Congo, Kenya, Rwanda, Senegal and South Africa. The pledging conference was hosted by the United States, in New York City, in September 2022.

The Eighth Replenishment was launched in 2025 for the funding period 2026-2028. The launch was co-hosted virtually by South Africa and the United Kingdom.